@Bill E. it will have some affect for sure.

Send me a message in my e-mail, we can talk better, you can find it in my profile!!

Or, like @Randy E. specifically state you'll leave the appliance but take no responsibility for it and you will remove it if there is a problem.

We have a bunch of local networking groups you can join - I see you live in Lexington, my firm is actually doing a rehab #Meetup at one of our projects in Concord  April 3, Tuesday night - e-mail us for details, or I suppose I can post on this thread if anyone else wants to join. 

The adjusted basis is equal to original cost + improvements - Depreciation taken on your return.You can look at your prior year tax returns to see how much basis was taken.See Schedule E - Line 18 - Depreciation Expense or Depletion>You may be able to exclude all/portion of the sale of the house if you lived in the house for 2 out of the last 5 years.I had to spend a few months fixing up the house before I sold it.

@Arthur Voskanyan If you have rental income (Schedule E), it's added to your W-2 income to "put you in whatever bracket."

P E A C EHasan

Make sure it's recorded so you can e-mail to those that couldn't attend!

Consider a HELOC a credit card secured by R/E.  

My goal is to buy an undervalued piece of property, fix it up, live in it and use the equity I put into it to continue investing in R/E.